Stonebridge Financial Group LLC Acquires New Position in GE Vernova Inc. (NYSE:GEV)

Stonebridge Financial Group LLC bought a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel reports. The fund bought 316 shares of the company’s stock, valued at approximately $104,000.

A number of other institutional investors also recently modified their holdings of GEV. FMR LLC increased its stake in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares during the last quarter. State Street Corp grew its stake in GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC acquired a new position in GE Vernova in the 3rd quarter worth about $2,507,296,000. Geode Capital Management LLC raised its stake in shares of GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after purchasing an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC lifted its holdings in shares of GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after buying an additional 1,161,901 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of several recent research reports. Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. Truist Financial increased their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group boosted their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $346.22.

GE Vernova Trading Down 0.8 %

Shares of NYSE GEV opened at $369.76 on Thursday. The firm has a market capitalization of $101.92 billion and a price-to-earnings ratio of 66.50. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The business has a fifty day simple moving average of $360.36 and a 200 day simple moving average of $290.17.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.